StockNews.com Upgrades Calumet Specialty Products Partners (NASDAQ:CLMT) to Hold

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities research analysts also recently issued reports on CLMT. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research note on Monday, August 7th. The Goldman Sachs Group cut their price objective on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, TheStreet downgraded shares of Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Calumet Specialty Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ:CLMT opened at $15.23 on Tuesday. Calumet Specialty Products Partners has a 52-week low of $11.91 and a 52-week high of $20.25. The company has a market capitalization of $1.22 billion, a P/E ratio of 29.29 and a beta of 1.92. The company has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $16.63.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Thursday, November 9th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.16. Calumet Specialty Products Partners had a net margin of 1.01% and a negative return on equity of 4.22%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.03 billion. As a group, equities analysts forecast that Calumet Specialty Products Partners will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Several hedge funds have recently bought and sold shares of CLMT. Morgan Stanley increased its holdings in shares of Calumet Specialty Products Partners by 64.4% during the fourth quarter. Morgan Stanley now owns 887,601 shares of the oil and gas company’s stock worth $14,983,000 after purchasing an additional 347,639 shares during the period. F M Investments LLC bought a new position in shares of Calumet Specialty Products Partners during the second quarter worth approximately $9,059,000. Price Jennifer C. bought a new position in shares of Calumet Specialty Products Partners during the second quarter worth approximately $9,059,000. Raymond James & Associates increased its holdings in shares of Calumet Specialty Products Partners by 8.9% during the third quarter. Raymond James & Associates now owns 325,667 shares of the oil and gas company’s stock worth $6,220,000 after purchasing an additional 26,585 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Calumet Specialty Products Partners by 3.0% during the second quarter. Goldman Sachs Group Inc. now owns 315,032 shares of the oil and gas company’s stock worth $3,273,000 after purchasing an additional 9,267 shares during the period. 19.96% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.